Multiple IRA Accounts – Over 70.5 RMD
I am over 70.5, therefore have to take RMD’s each year.
I also have several IRA, SEP IRA’s invested with different companies.
I calculate my RMD annually and take from one IRA account towards the end of the year.
Question: I would like to transfer the SEP IRA account to consolidate with one of the IRA accounts
with the same custodian, as I have no need for a SEP IRA now being retired.
Can I do the direct transfer before the total required RMD has been satisfied for the year or must I wait until
all the RMD has been distributed before I can transfer any accounts?
Thanks
Permalink Submitted by Alan - IRA critic on Tue, 2019-05-07 15:28
A direct trustee transfer between IRA accounts is not a distribution and is not reported, therefore you can do them anytime you wish without regard to the RMD and without regard to any QCDs you may do. These transfers are also unlimited in number. Note that Roth conversions however are treated as reported distributions so they impact RMD timing.